Feb 6, 2025 | Accounting, Government
The Governmental Accounting Standards Board (GASB) has released a new Exposure Draft on Subsequent Events, aiming to enhance financial reporting consistency and provide clearer guidance on recognized and nonrecognized events. In this blog, we’ll look at the key areas of the exposure draft to keep you informed about the proposed changes. Your feedback is valuable! Share your insights by February 21st by submitting comments to director@gasb.org or via the online input form.
Jul 29, 2020 | Accounting, Genuine Learning, Government
GASB has proposed its Exposure Draft which would improve the financial reporting model. The proposal includes changes to MD&A, extraordinary items, presentation of proprietary funds, and implements the short-term financial resource measurement focus for governmental funds which was introduced in an ED earlier this month. Comments are due February 26, 2021.
Dec 12, 2019 | Genuine Learning, Government
GASB proposed the Implementation Guidance Update—2020 ED on November 20th with comments due by January 31, 2020. The IG proposal includes 23 new questions and 5 updated questions. Topics range from the Financial Reporting Entity, Investment Pools, and Fiduciary Activities to Leases, AROs and Conduit Debt. The question and answer document addresses many of the implementation issues impacting governments for the most recent GASB standards.
Aug 21, 2019 | Accounting, Government
This week’s blog is a two for one special. GASB has issued two niche exposure drafts. The first is the 20XX Omnibus that addresses a variety of very specific technical issues and corrections. The second addresses the scope of pension guidance with respect to...
